The general meeting of members of the Motor (Transport) Insurance Bureau of Ukraine on May 18 decided to exclude from its membership IC Providna, IC PROSTO-insurance, IC Omega, IC Motro-Garant and UASC ASKA, thus reducing the total number to 34 companies, a meeting participant told Interfax-Ukraine agency.
According to him, the meeting did not come to a unanimous decision on the election of a new Presidium of MTSBU, leaving the current composition to work.
As reported, the National Bank of Ukraine (NBU) on March 23, 2023 has revoked PJSC IC “Providna” license to conduct business activities in the provision of financial services, in particular compulsory insurance of civil liability of owners of vehicles and March 27, excluded from the State Register of financial institutions. The decision was taken due to failure to eliminate violations of license conditions.
JSC “PROSTO-insurance” was excluded from the State Register on May 16 in connection with the cancellation of all previously available licenses to provide financial services, due to the fact that the ownership structure of the insurer does not meet the requirements of the legislation.
Starting February 24, 2023, АSК “Omega” lost the right to enter into contracts of compulsory insurance of civil liability of owners of ground vehicles (CMTPL). The reason for this decision was the NBU canceling the license of the company to conduct business activities in the provision of financial services due to the fact that the ownership structure of the insurer does not meet the requirements of Ukrainian legislation.
On December, 5 2022 NBU has suspended license of ALC IC Motor-Garant due to noncompliance of the company with requirements of the Regulation on licensing and registration of financial service providers and their activities in the provision of financial services, namely the requirements for business reputation of financial service providers.
On May 1 NBU canceled the last license of UJSIC “ASKA” and excluded the company from the State Register of Financial Institutions. Due to completion of reorganization procedure of the company by means of its merger with PrJSC IC “VSO”.
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